Robeco Institutional Asset Management B.V. Grows Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Robeco Institutional Asset Management B.V. lifted its stake in Atlassian Co. (NASDAQ:TEAM) by 9.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,661 shares of the technology company’s stock after purchasing an additional 4,450 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Atlassian were worth $12,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC raised its position in Atlassian by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company’s stock worth $963,000 after buying an additional 83 shares during the last quarter. Slow Capital Inc. grew its stake in Atlassian by 2.9% in the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company’s stock valued at $8,245,000 after acquiring an additional 959 shares during the period. Pacer Advisors Inc. boosted its stake in Atlassian by 330.1% during the 4th quarter. Pacer Advisors Inc. now owns 51,481 shares of the technology company’s stock worth $12,529,000 after purchasing an additional 39,511 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Atlassian during the 4th quarter worth $2,976,000. Finally, Blue Trust Inc. boosted its stake in Atlassian by 20.9% during the 4th quarter. Blue Trust Inc. now owns 811 shares of the technology company’s stock worth $197,000 after purchasing an additional 140 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of Atlassian stock opened at $306.78 on Friday. The firm has a market capitalization of $79.89 billion, a P/E ratio of -201.83 and a beta of 0.83. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average is $260.51 and its two-hundred day moving average is $208.06.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Research analysts forecast that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TEAM shares. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Truist Financial reaffirmed a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research report on Friday. Morgan Stanley increased their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group increased their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.00.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the transaction, the director now directly owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 445 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00. Following the transaction, the chief accounting officer now owns 58,723 shares in the company, valued at approximately $13,506,290. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,156 shares of company stock worth $65,313,573 over the last three months. Insiders own 38.55% of the company’s stock.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.